Re: Support and Resistance levels

[Jimmy Snowden <jhsnowden@xxxxxxxxxxxxx>]

Hey Nevi,

I'm with Alex.

I haven't looked in some time but my opinion has been the same since
they started night trading.  And that was a long time ago.  It still
isn't worth factoring into your trading.  It is too thin and crowded
with Freddy Kruger types.  Or his victoms.

And truly the good S&R trader makes his decisions by what happens at
S&R points.  Plus Bill Cruz says Omega has never seen a good S&R
system so you know it must work.

Jimmy


Hello omega-list,
To calculate Support and Resistance levels for the 24 hour emini
contract should the dailyhigh and dailylow be calculated using
the whole 24 hours of data, or should the dailyhigh and dailylow be
calculated only during S&P open outcry hours 8:30am - 3:15pm.
Thanks
Nevi

Resis2 = Pivot plus (Resis1 minus Supp1)
Resis1 =(Two times Pivot) minus daily Low
Pivot = (DailyHigh plus DailyLow plus DailyClose) divided by 3
Supp1 = (Two times Pivot) minus daily high
Supp2 = Pivot minus (Resis1 minus Supp1)